Question
Required information Skip to question [The following information applies to the questions displayed below.] Delph Company uses a job-order costing system and has two manufacturing
Required information
Skip to question
[The following information applies to the questions displayed below.]
Delph Company uses a job-order costing system and has two manufacturing departmentsMolding and Fabrication. The company provided the following estimates at the beginning of the year:
Molding | Fabrication | Total | |||||
Machine-hours | 22,000 | 31,000 | 53,000 | ||||
Fixed manufacturing overhead cost | $ | 720,000 | $ | 280,000 | $ | 1,000,000 | |
Variable manufacturing overhead cost per machine-hour | $ | 5.00 | $ | 2.00 | |||
During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobsJob D-70 and Job C-200. It provided the following information related to those two jobs:
Job D-70 | Molding | Fabrication | Total | |||
Direct materials cost | $ | 370,000 | $ | 320,000 | $ | 690,000 |
Direct labor cost | $ | 200,000 | $ | 160,000 | $ | 360,000 |
Machine-hours | 16,000 | 6,000 | 22,000 | |||
Job C-200 | Molding | Fabrication | Total | |||
Direct materials cost | $ | 240,000 | $ | 260,000 | $ | 500,000 |
Direct labor cost | $ | 120,000 | $ | 260,000 | $ | 380,000 |
Machine-hours | 6,000 | 25,000 | 31,000 | |||
Delph had no underapplied or overapplied manufacturing overhead during the year.
rev: 07_21_2020_QC_CS-217627, 09_03_2020_QC_CS-225692
- equired 1A
- Required 1B
- Required 1C
- Required 1D
Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental predetermined overhead rates. (Round the final answers to 2 decimal places.)
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Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. (Round your intermediate calculations to 2 decimal places. Round your final answers to nearest whole dollar amount.)
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Assume Delph uses departmental predetermined overhead rates based on machine-hours. If Delph establishes bid prices that are 150% of total manufacturing cost, what bid prices would it have established for Job D-70 and Job C-200? (Round your intermediate calculations to 2 decimal places. Round your final answers to nearest whole dollar amount.)
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Assume Delph uses departmental predetermined overhead rates based on machine-hours. What is Delphs cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places. Round your final answer to nearest whole dollar amount.)
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